Oil & Gas News

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S&P Director of Analytics: Energy Sector Balanced on a Knife Edge

Industry Headlines

UAE Says OPEC, Allies To Announce Exit Strategy From Oil Cuts In June
Monday, December 11, 2017 United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui says OPEC and non-OPEC oil producers plan to announce in June an exit strategy from global supply cuts.

Oil, Gas to Continue to Play Key Role in North East Scotland Growth
Monday, December 11, 2017 The oil and gas industry will continue to play a key role in North East Scotland's growth, Derek Leith, EY office managing partner for Aberdeen, has confirmed.

S&P Director of Analytics: Energy Sector Balanced on a Knife Edge
Friday, December 08, 2017 From the prolific shales of the Permian to the prevailing peace within OPEC, the global oil industry seems to have come to a place of balance.

US Jobs Report: Slight Increase in Oil, Gas Jobs
Friday, December 08, 2017 After a month of slight declines, oil and gas employment inches up in November.

Global Oil Sector Will Shift to Upcycle in 2018
Friday, December 08, 2017 The global oil and gas sector will shift from downcycle to upcycle in 2018, according to a new report from BMI Research.

Oil Rises Nearly 2% On China Demand, But Weekly Losses Loom
Friday, December 08, 2017 Oil prices rose almost 2%, helped by rising Chinese crude demand and threats of a strike in Africa's largest oil exporter.


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Exploration

Mexico Says Deepwater Oil Tender Doomed By Brazil Competition
Friday, December 08, 2017 Pemex blames the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite.

Petrochina Conducts Major Internal Transfer Of Oil, Gas Blocks
Friday, December 08, 2017 PetroChina conducts its first major internal transfer of mining rights between subsidiaries to allow those with mature fields to look for oil and gas in under-developed regions.

Seismic Survey Offshore Mozambique Commences
Friday, December 08, 2017 Seismic imaging specialist Spectrum announces the commencement of a 2D seismic survey offshore Mozambique on behalf of the Institute of National Petroleum.

Po Valley Energy Announces 'Positive' Results from Well Onshore Italy
Wednesday, December 06, 2017 Po Valley Energy announces positive log results from the drilling of the Podere Maiar 1 (PM1) well on the Selva gas field onshore Italy.

While Senate Pushes ANWR Drilling, Industry Looks Elsewhere
Tuesday, December 05, 2017 Even as the US Senate moves to allow oil drilling in Alaska's ANWR, the real action is 150 miles (241 km) west.

China To Auction Five Oil, Gas Blocks In Xinjiang In Reform Push
Tuesday, December 05, 2017 China is putting out for auction 5 oil and gas blocks in the remote northwest Xinjiang region to domestic investors.


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Production

DNO Triples Production at Peshkabir Field
Monday, December 11, 2017 Production from the Peshkabir field in the Kurdistan Region of Iraq's Tawke license has tripled to 15,000 barrels of oil per day.

Eni Can Restart Production At Arctic Goliat Oilfield -Norway Regulator
Friday, December 08, 2017 Italian oil firm Eni receives permission to restart production at its Goliat oilfield in the Arctic Barents Sea.

Brunei Oil Production to Grow Over Next 5 Years
Thursday, December 07, 2017 Brunei's oil production will grow over the next 5 years, supported by output maintenance works at mature assets.

EIA: US Crude Stockpiles Slump, Gasoline Builds More Than Expected
Wednesday, December 06, 2017 US crude oil stockpiles fell more than expected last week as refineries hiked output.

Greece, Italy, Israel and Cyprus Back Natgas Pipeline To Europe
Tuesday, December 05, 2017 Italy, Greece, Cyprus and Israel agree to back the construction of a gas pipeline from newly discovered fields.

Gadfly: The Billion Barrels That Make or Break the Oil Market
Monday, December 04, 2017 There are a billion barrels of oil simultaneously buoying the market and hanging over it like a giant storm-cloud.


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Finance and Investing

Oil, Gas Investment Resources Ramping Up in 4Q
Friday, December 08, 2017 Select energy funds are anticipating a pick-up in investments in 2018.

Energy Bonds Trade Like Stocks as Wildcatters Get Religion
Wednesday, December 06, 2017 For the first time in months, energy bond and stock investors are both feeling good.

Thailand's Gulf Energy Marks Market Debut with 27.8% Jump
Wednesday, December 06, 2017 Gulf Energy Development PCL makes its market debut with shares trading at 27.8 percent above their initial public offer.

Britain's Genel Energy Seeks To Cut Bond Debt To $300 Mln
Wednesday, December 06, 2017 Iraqi Kurdistan-focused oil producer Genel Energy plc is seeking to reduce its bond debt to $300 million from the currently outstanding $421.8 million.

Chinese Firm Rescinds Takeover Offer For Australia's AWE
Tuesday, December 05, 2017 Bid to buy AWE has been formally withdrawn.

Private Equity Firm Blue Water Energy Raises $1.1B For Oil Investment
Monday, December 04, 2017 Blue Water Energy raises $1.1 billion for a fund to invest in oil and gas, the latest sign of growing appetite for the industry as crude prices recover from a downturn.


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Company Operations

Kuwait Replaces Oil And Finance Ministers - State News Agency
Monday, December 11, 2017 Kuwait replaced its oil and finance ministers in a cabinet reshuffle on Monday, state news agency KUNA reported.

Subsea UK Unveils New Board for 2018-19
Monday, December 11, 2017 Industry body Subsea UK has unveiled its new board for 2018-19, following a members' ballot at its Annual General Meeting.

AWE receives acquisition proposal from Mineral Resources Limited
Monday, December 11, 2017 AWE Limited receives an acquisition proposal from Mineral Resources Limited.

One Dead, Output Shut After Accident At Norway's Tambar Oilfield
Friday, December 08, 2017 One person has been confirmed dead following an accident on Thursday on a Maersk-owned drilling rig at Aker BP's Tambar oilfield off Norway.

CHC Lands Centrica Helicopter Support Contract
Friday, December 08, 2017 CHC Group secures a contract from Centrica to provide helicopter services in support of the forthcoming drilling program at the Fogelberg field in the Norwegian Sea.

Wintershall, DEA Signal Intention to Merge
Friday, December 08, 2017 BASF and LetterOne sign a letter of intent to merge their oil and gas subsidiaries Wintershall and DEA.


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Policy

Tillerson Flap Bad Timing for Iran Decision: Balance of Power
Thursday, October 05, 2017 Signs of friction are again plaguing Donald Trump's White House at a pivotal moment for his policy agenda.

Oil Drillers May See Big U.S. Tax Cut - If Deductions Survive
Thursday, October 05, 2017 U.S. oil explorers could see a multibillion-dollar benefit from a move to slash the U.S. corporate tax rate but some of the industry's biggest tax breaks could also be under fire.

Amid Skepticism, Nigeria Continues to Move Forward to Revamp its Government
Thursday, August 10, 2017 Operators, experts remain cautious as Africa's No. 1 oil producing nation passes a bill to reduce corruption.

US Energy Agency to Take on $50 Billion Backlog as Senate Acts
Friday, August 04, 2017 The main US energy regulator can get back to the business of approving multibillion-dollar natural gas pipelines after the Senate moved to fill two of four vacancies at the long-crippled agency.

Japan To Start Work On Revising Basic Energy Policy Next Week
Tuesday, August 01, 2017 Tokyo will begin discussions on a revision of Japan's basic energy plan next week, Minister of Economy, Trade and Industry Hiroshige Seko says.

Pennsylvania May Impose Severance Tax
Friday, July 28, 2017 Operating in the Keystone State might get more expensive for the natural gas industry.


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Refining

Iraq Boosts Output Capacity At Kirkuk Oil Refinery-Oil Ministry
Monday, December 11, 2017 Iraq's Oil Ministry has added a new processing unit to the Kirkuk oil refinery, increasing the plant's capacity to 56,000 barrels per day.

Petrobras Eyes Adjustments In Fuel Pricing To Fight Importers
Friday, December 08, 2017 Petrobras could make more adjustments to its fuel pricing policy, its executive manager for fuel sales says.

Vietnam Signs Crude Oil Supply Deals With SOCAR, Glencore
Friday, December 08, 2017 Vietnam's state-run Binh Son Refining and Petrochemical Co (BSR) and state oil marketer PV Oil sign non-binding term agreements with 2 western trading companies to buy crude.

China's Hengyi To Increase Singapore Staff To Push Oil, Coal Trade
Thursday, December 07, 2017 Hengyi Industries International Pte plans to expand its team in Singapore to buy crude and coal as well.

CB&I Wins Contract for Saudi Aramco-Shell Project
Thursday, December 07, 2017 Contract valued at more than $95 million, CB&I reports.

European Oil Margins Sink, But Traders Expect Recovery In 1Q 2018
Wednesday, December 06, 2017 Benchmark European oil refining margins sink to a 15-month low.


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Biofuels

White House Pressures Big Corn To Meet On US Biofuels Policy
Friday, December 08, 2017 President Trump's administration called lawmakers from the US corn belt to convince them to join talks about potential changes to biofuels policy.

GE's 12,000 Job Cuts Highlight Uneasy Shift to Renewable Energy
Friday, December 08, 2017 GE points to the growth of renewables as a factor in its decision to cut jobs.

Trump Open Biofuel Policy Reform, Senators Say After Meeting
Thursday, December 07, 2017 Trump is open to reforming the country's biofuels policy if it can be done in a way that protects jobs in both the refining and agriculture industries, senators say.

Engie Plans To Go Green Via Biogas And Renewable Hydrogen
Monday, December 04, 2017 Engie plans to switch all of its gas operations to biogas and renewable hydrogen by 2050, making it 100% green, its chief executive says.

A $12B Clean-Energy Tool That US Tax Reform Could Kill
Friday, December 01, 2017 The tax-reform proposal moving through the US Senate would hobble - and potentially cripple - the supply of tax-equity investment.

Refining Group Chief: 'King Corn' Wins with Latest RFS Volumes
Thursday, November 30, 2017 Renewable fuels, oil refining interests find flaws.


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Petrochemical

Saudi Arabia's SABIC Looking At Investing In US
Wednesday, December 06, 2017 SABIC is considering several possible investments in the United States.

Sasol Shifts Strategy, Evaluates Chemical Business Split
Wednesday, November 29, 2017 Sasol will consider carving out a separate company from its expanding chemicals business.

Pertamina Signs JV Deal With Russia's Rosneft For New Tuban Refinery
Tuesday, November 28, 2017 Pertamina Signs JV Deal With Russia's Rosneft For New Tuban Refinery

CEO: SABIC Plans To Spend $3-$10B In Acquisitions Over Next 5 Years
Tuesday, November 28, 2017 Petrochemical producer Saudi Basic Industries Corp (SABIC) plans to spend between $3 and $10 billion on acquisitions over the next 5 years.

China's CEFC, Rosneft To Study South China Petrochemical Complex
Friday, November 10, 2017 Private conglomerate CEFC China Energy and Rosneft agree to study the possibility of building a petrochemical complex in South China.

Shell's Pennsylvania Project Hits Milestone
Wednesday, November 08, 2017 Multibillion-dollar petchems project transitions from early works to main construction.


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Pipelines

Premier Oil To Sell North Sea Pipeline Stake To CATS
Monday, December 11, 2017 Premier Oil Plc will sell its 30% stake in a North Sea pipeline to UK gas infrastructure company CATS Management Ltd for up to 23.6 million pounds ($31.68 million).

Kinder Morgan Canada Rises Most Since IPO on Pipeline Decision
Friday, December 08, 2017 Shares in Kinder Morgan Canada Ltd rose as much as 9.5% to a 4-month high early Friday.

UK Forties Oil Pipeline Cuts Flow After Leak, Kinneil Issue
Thursday, December 07, 2017 Oil flow along the UK's Forties oil pipeline which carries the crude that usually sets the global Brent benchmark has been reduced.

Kinder Morgan Canada Wins Appeal On Trans Mountain Expansion
Thursday, December 07, 2017 Canada's energy regulator ruled in favor of Kinder Morgan Canada Ltd.

Enterprise to Ship More Permian Crude to Texas Gulf Coast
Wednesday, December 06, 2017 Enterprise says it will have more than 650,000 bpd of total crude pipeline capacity from Permian to Houston-area hub.

Company: Explosion At Petroperu Crude Oil Tank Kills Two Workers
Wednesday, December 06, 2017 An explosion at a Petroperu crude oil tank killed two men who had been performing maintenance work on Wednesday.


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Terminals and Storage

Sources: Mexico's Pemex Declares Force Majeure On Isthmus Crude Oil
Wednesday, November 29, 2017 Pemex declares force majeure on the loading of Isthmus crude, two sources with knowledge of the matter say.

Winter, Dwindling Stocks Draw Wave Of Diesel To New York
Wednesday, November 29, 2017 A wave of tankers carrying diesel was heading for the New York Harbor trading hub on Wednesday.

US Oil Exports Boom, Putting Infrastructure To The Test
Monday, October 30, 2017 US crude exports have boomed since the decades-old ban was lifted less than two years ago.

Kemp: US Natural Gas Prices Under Pressure Even As Stocks Tighten
Friday, October 20, 2017 US natural gas stocks continue to tighten, but most traders appear unconcerned.

US Regulator To Monitor Winter Natgas Supply In California, New England
Friday, October 20, 2017 US energy regulators will pay attention to natural gas supply issues in Southern California and New England this winter.

Could Mexico Be the Next Panama Canal for Gas? Drillers Think So
Friday, October 20, 2017 America's drillers are looking for a cheaper and quicker route.


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LNG/LPG

Cheniere Boosts LNG Tanker Fleet Amid Asian Demand Boom
Tuesday, December 05, 2017 Cheniere Energy expands shipping fleet with a flurry of spot vessel charters to keep up with Asian winter demand growth.

Russia Starts Up Second LNG Plant In Remote Arctic
Tuesday, December 05, 2017 Russia starts production at its second liquefied natural gas plant, Yamal LNG, with the aim of shipping the first cargo on Dec. 8 from the remote Arctic port of Sabetta.

Report: LNG Project Sanction Uptick in 2018
Tuesday, December 05, 2017 There will be an uptick in the number and capacity of LNG projects sanctioned in 2018, according to a new report.

Asia Spot Stays Near 3-Year High For Third Week
Friday, December 01, 2017 Asian spot LNG prices were unchanged for a third week.

Shell LNG Plant In Queensland, Australia To Undergo Maintenance-AEMO
Friday, December 01, 2017 Royal Dutch Shell's Queensland Curtis liquefied natural gas (LNG) production plant will undergo a partial maintenance outage on May 7-27, 2018.

Pakistan In LNG Talks With France, Italy And Spain
Thursday, November 30, 2017 Pakistan is in talks to import LNG from France, Italy and Spain, a senior Pakistani source says.


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